Simplify Asset Management Inc. Has $11.90 Million Stake in PureCycle Technologies, Inc. (NASDAQ:PCT)

Simplify Asset Management Inc. lowered its holdings in PureCycle Technologies, Inc. (NASDAQ:PCT) by 34.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,161,208 shares of the company’s stock after selling 610,848 shares during the quarter. PureCycle Technologies comprises about 0.6% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 11th largest position. Simplify Asset Management Inc. owned 0.67% of PureCycle Technologies worth $11,902,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Sylebra Capital LLC increased its holdings in shares of PureCycle Technologies by 14.6% in the third quarter. Sylebra Capital LLC now owns 33,457,649 shares of the company’s stock valued at $317,848,000 after purchasing an additional 4,264,393 shares in the last quarter. Harvard Management Co. Inc. increased its stake in shares of PureCycle Technologies by 249.7% in the 3rd quarter. Harvard Management Co. Inc. now owns 2,498,170 shares of the company’s stock valued at $23,733,000 after buying an additional 1,783,885 shares during the period. Appian Way Asset Management LP raised its position in shares of PureCycle Technologies by 12.9% during the third quarter. Appian Way Asset Management LP now owns 5,674,168 shares of the company’s stock worth $53,905,000 after acquiring an additional 650,426 shares during the last quarter. Ethos Financial Group LLC acquired a new position in shares of PureCycle Technologies during the fourth quarter valued at $2,941,000. Finally, Drive Wealth Management LLC boosted its holdings in PureCycle Technologies by 767.7% in the fourth quarter. Drive Wealth Management LLC now owns 308,027 shares of the company’s stock valued at $3,157,000 after acquiring an additional 272,527 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

PureCycle Technologies Stock Performance

Shares of NASDAQ:PCT opened at $7.77 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.63 and a debt-to-equity ratio of 1.36. PureCycle Technologies, Inc. has a 1-year low of $4.50 and a 1-year high of $15.58. The stock has a market capitalization of $1.39 billion, a P/E ratio of -5.18 and a beta of 1.55. The business has a 50-day moving average price of $9.04 and a two-hundred day moving average price of $10.15.

PureCycle Technologies (NASDAQ:PCT) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). Equities analysts predict that PureCycle Technologies, Inc. will post -1.01 earnings per share for the current year.

Insider Activity

In related news, major shareholder Sylebra Capital Llc bought 619,925 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were purchased at an average price of $8.06 per share, with a total value of $4,996,595.50. Following the completion of the purchase, the insider now owns 34,077,574 shares of the company’s stock, valued at $274,665,246.44. This represents a 1.85 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.44% of the stock is currently owned by company insiders.

PureCycle Technologies Profile

PureCycle Technologies, Inc engages in the production of recycled polypropylene (PP). The company holds a license for restoring waste PP into ultra-pure recycled polypropylene resin that has multiple applications, including packaging and labeling for consumer products, piping, ropes, cabling, and plastic parts for various industries.